Top Trade Ideas for the Week of August 11, 2014: The Rest

• Posted by Greg Harmon
• on August 10th, 2014

Here are the Rest of the Top 10:

American Capital, Ticker: $ACAS

American Capital, $ACAS, has been building an ascending triangle against a resistance zone topping at 16 and rising support of the 200 day SMA since at least February. As it sits on the support there is low risk upside trade opportunity.

Altera, Ticker: $ALTR

Altera, $ALTR, is a bottoming and reversal trade. The price has moved off of a higher low with a rising RSI and a MACD that is about to cross up.

BlackRock, Ticker: $BLK

BlackRock, $BLK, is a bottoming and reversal play. The RSI has bounced off the technically oversold region and the MACD is starting to level. The price is consolidating and moving up as it moved under the 200 day SMA.

Cintas, Ticker: $CTAS

Cintas, $CTAS, has been testing resistance at 64.50 since late June. The consolidation has now found support from the 20 day SMA. The RSI is in the bullish zone and starting back higher with a MACD about to cross up to support more upside.

Kansas City Southern, Ticker: $KSU

Kansas City Southern, $KSU, pulled back from a top over 117 July 23rd. It found support last week near 107 and Friday moved higher. The RSI is turning back up and the MACD is leveling as it consolidates around the 50/200 day SMA cross. Technically this is a Golden Cross.

Up Next: Bonus Idea

The Best

If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits feed and on chartly.

After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which, heading into next week sees the equity markets still looking a bit shaky, but better than last week. Elsewhere look for Gold to continue to consolidate with an upward bias while Crude Oil consolidates with a downward bias. The US Dollar Index and US Treasuries look set to consolidate with an upward bias. The Shanghai Composite is also consolidating with an upward bias, while Emerging Markets are biased to the downside as they struggle at resistance. Volatility looks to remain low but with an upward bias keeping the bias flat to slightly lower for the equity index ETF’s SPY, IWM and QQQ. Their charts show that the IWM is strongest again and showing the strongest signs of a reversal while the SPY and QQQ look as if they could continue to consolidate in their long term uptrends. Use this information as you prepare for the coming week and trad’em well.

Get my book, Trading Options: Using Technical Analysis to Design Winning Options Trades.
____________________________________________________________________________________________________

Want to learn more about Dragonfly Capital Views?
Dragonfly Capital Views Performance Through July 2014 Expiry and sign up here

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

blog comments powered by Disqus